the gray was saddled, Farrel did not mount, but came to Kay and
handed her the horsehair leading-rope.

"If you will be good enough to take the horses round in front," he
suggested, "I'll go back to the kennels and loose the hounds. On our
way over to the Sepulvida rancho, we're liable to put up a panther or a
coyote, and if we can get our quarry out into the open, we'll have a
glorious chase. I've run coyotes and panthers down with Panchito and
roped them. A panther isn't to be sneezed at," he continued,
apologetically. "The state pays a bounty of thirty dollars for a
panther-pelt, and then gives you back the pelt."

Five minutes later, when he came round the north corner of the old
hacienda, his hounds frisking before him, he met Kay riding to meet him
on Panchito, but the gray gelding was not in sight. The girl was
excited.

"Where is my mount, Miss Parker?" he demanded.

"Just as I rode up in front, a man came out of the patio, and started
that automobile hurriedly. He had scarcely gotten it turned round when
one of his front tires blew out. This seemed to infuriate him and
frighten him. He considered a minute or two, then suddenly ran over to
me, snatched the leading-rope out of my hand, mounted, and fled down
the avenue at top speed."

"'The wicked flee when no man pursueth'," the master of Palomar
replied, quietly, and stepped over to the automobile for an examination
of the license. "Ah, my father's ancient enemy!" he exclaimed, "Andre
Loustalot has been calling on your father, and has just learned that I
am living. I think I comprehend his reason for borrowing my horse and
dusting out of here so precipitately."

"There he goes now!" Kay cried, as the gray burst from the shelter of
the palms in the avenue and entered the long open stretch of white road
leading down the San Gregorio.

Don Mike's movements were as casual as if the theft of a horse in broad
daylight was an every-day occurrence.

"Unfortunately for that stupid fellow, he borrowed the wrong horse," he
announced, gravely. "The sole result of his action will be to delay
our ride until tomorrow. I'm sorry, but it now becomes necessary for
me to ask you for Panchito."

She slid silently to the ground. Swiftly but calmly he readjusted the
stirrups; then he faced the girl.

"Want to see some fun?" he demanded.

"Why--yes," she replied, breathlessly.

"You're a good little sport. Take your father's car and follow me.
Please bri